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Ohio Jewish chronicle. (Columbus, Ohio), 1975-05-22

Ohio Jewish Chronicle. (Columbus, Ohio), 1975-05-22, page 01

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LIBRARY, OHIO HISTORICAL SOCIETY 1982 VELMA AVE*
COLS
43211
EXCH
VOL. 53 NO. 4
MAY 22, 1975 - SIVAN 12
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Saudi Arabian Official Says Government Now Has No Plans To Invest In U.S. Business
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.4.1,
Mother Of Ihe Year
NEW YORK—Mrs. Josephine Burson of iMemphis is surrounded by her family after she was named 1975 American Mother of the Year iri New York. With her are her son, Charles, and his wife, Bunny (left), her husband, Leo R. Burson; and her daughter, Linda, with her fiance, Dr. Zed Aydelott.
The wife of an attorney, Mrs. Bursor who is Jewish, . has combined motherhood and a professional career. She was Tennessee Commissioner of Employment' from 1967 to 1971, and is past national vice-president of : Hadassah. Mrs. Burson, who says she is pleased with the changing role of women in contemporary society,- has done some pioneering of her own on behalf of women. She was the first woman trustee of Memphis State University, served on Tennessee's Ctowmissiori on the Status of Women, was an organizer of the Memphis Jewish Community Relations 'Council, serving as its president from 1964 to 1967. *
Mrs. Burson's parents were immigrants.. Her mother came from Lithuania and settled in Jonesboro,' Ark. Her father came to Memphis' from South Africa, where he was a soldier iri the Boer War. : ,,.'•'
RELIGIOUS NEWS SERVICE PHOTO
By BUI Cohen Chronicle Special Reporter
The government of Saudi Arabia has changed its mind and now has "no/plan to invest in U.S. business and industry," the (Coordinator of a Saudi Arabian economic mission said in Columbus last week. .■'•(!.'
Dr.' Abdelrahman Al- Zamel said that negative reaction from . some American businessmen and pressure from pro-Israeli groups were partly behind the Saudi Arabian Change in plans.
He said his government observed the protests and court actions attempting to stop a real estate investment by Kuwait in South Carolina arid investments by two Saudi individuals in Michigan and California banks.
"Why should y/e buy new problems with our money?" Al-Zamel asked. "We think if the Americans do riot want it (Ar^ab Investment), it is up to , them.?'
"I can't say we never had the plan (to invest in U;S. business) but now, we don't , have it," he said. ■j Al-Zarriel said the only Saudi Arabian government investment in America
would be in the form of U.S. government bonds.
Another reason for the Saudi change of plan is that "we have reached the conclusion that it is much better to invest our money back home to develop our nation," according to Al- Zamel. >
He explained that the Saudi Arabian government plans to invest his nation's rapidly - accumulating petro - dollars in a five - year, $150,000,000,000 self -I development project of' industrialization. He added that the plan will also focus, on providing free education and health care to all Saudis. Al-Zamel said that last year, Saudi Arabia built "a school a day" and plans to continue that project. "
Instead of Saudi Arabia
investing in the U.S., Saudi
. Arabia is asking U.S.
businesses to invest in Saudi
'^''Arabi^,:;,:'he'-;^d.-:A^d'.r'he' added that many financial incentives are beihgjto American mdustry --^; n»
'-'ibl£'u^e;'t^':fw-:<fae.'ne^:ihve years, free land on which to build plants in Saudi Arabia, and an import protection tax
to give goods produced in Saudia Arabia a competitive advantage. Al-Zamel maintained that
40 plants were established in Saudi Arabia last year with backing from American business and that 60 more are expected this year.
Al-Zamel reminded reporters that no businesses that have dealings with Israel will be allowed to invest in Saudi Arabia, and he defended the blacklist against pro-Israeli businesses by saying it is a
political, not a religious, boycott, "like what you have been doing to the Cubans."
The blacklist, he said, is an effort to pressure Israel to return to its pre-1967 borders and to accept the creation of an independent Palestinian state on the land it with¬ draws from.
"Quite a few" European and American firms have
— (CONTINUED ON PAGE 12),
Congressmen Caution USSR On Deteriorating Jewish Condition
United States And Israel Sign Agreement To Promote American Investment In Israel
WASHINGTON, (JTA) - A bipartisan bloc of 45 Congressmen cautioned the Soviet government May 15 that while many members of Congress want to nurture "the spirit of good feelings and cooperation that has
' been growing" between the United States and the Soviet Union, "we cannot so long as the repressive treatment of
.Soviet Jews continues." "We' would re-emphasize to you,"
; the Congressmen wrote Soviet Ambassador Anatoly Dobrynin, "that human rights remains a basic concern of members of Congress, and we see Congressional resolve only hardening in the face of the deteriorating situation (of Jews) in the Soviet Union." The Congressmen added: "This of course has grave implications for the future of detente, Congress will not be
willing to permit a closer relationship with your country .unless it is con-' vinced your government shares a commitment - to basic civil rights and liberties. In the absence of that commitment we see only a dim future fori the cause of detente.' This saddens us as we feel our two countries have much, to gain
. from each other, both culturally and' technologically." The Congressmen's letter,
.'originated by Reps. Gilbert Gude (R. NY), Benjamin Rosenthal (D. NY) and
. Jonathan Bingham (D. NY), noted that more than 65 Soviet Jewish men and women have been sentenced to prison terms of from three to 15 years "following their expressed desire to leave the USSR for Israel" and that most of them still remain in- Soviet labor camps.
. By Joseph Polakoff
WASHINGTON, (JTA) - Israeli Finance Minister Yehosuha Rabinowitz and Secretary of the Treasury William E. Simon signed a joint statement here May 13 (aimed at facilitating the promotion of investments in Israel by American corri- panies. They also initialed a treaty on double taxation which, when ratified by ..Congress, will provide ad¬ ditional inducements for American /investors.,' iri Israel. The signings marked the conclusion of two days of negotiations between Simon and Rabinowitz who serve as Co-chairmen of the U.S. - Israel Joint Committee for Investment and Trade and senior officials of both countries. Rabinowitz said "This is the first time such a comprehensive agreement has beeri signed by. the two
countries." He and other Israeli officials noted that the agreements entered into here and Israel's agreement with the European Common Market countries signed in Paris last week should be of particular interest to
. American investors because Israel is now in the position of enjoying "a very unique situation." They pointed out that the agreement with; the
' Common Market makes Israel part of the EEC area with an annual gross national product of $800 bfflion.
The joint statement signed by Rabinowitz arid Simon reaffirmed the policy of their respective governments to oppose restrictive trade practices and boycotts against countries friendly to either. The statement referred to Presiderit Ford's statement of Feb. 26 that religious or ethnic
discrimination was totally contrary to the American tradition and has no place in .the free1 commerce of the United States— a direct reference to the Arab boycott and blacklisting of companies doing business with Israel; Rabinowitz said afterwards that the op¬ position to boycotts con¬ tained in the joint statement could have beeri "stronger" but "we are satisfied with, the statement as it is here." Other Israeli officials said, however, that the Rabinowitz - Simon statement "clearly goes, beyond what President Ford has said."
In order to assist foreign investors, the Israeli government has developed a "special business package" to help manufacturers in the investment phase by of¬ fering financial leverage and in the operating phase by
providing low cost working capital arid rebate for in¬ direct taxes. According to the U.S. Internal Revenue Service Code,' American investments in Israel enjoy the special Less Developed Country status thereby entitling the company to a
'(CONTINUED ON PAGE 12)
Professor Alfred Ivry To lecture At Ahavas Sholom
On Sunday, June 8, at 8 p.m„ Professor Alfred Ivry will speak at Congregation Ahavas Sholom, as the final
"No Second Thoughts" About U.S. Hawk Missiles To Jordan
WASHINGTON, (JTA) - A State v Department spokesman said May 14 that he had "no second thoughts" about the U.S. deal to sell Jordan a $100 million "Hawk" anti '-"■ aircraft missile system and other ' weapons despite reports that Jordan is receiving air defense cover from Syria. Questioned by reporters on that matter/Department
spokesman;. Robert Funseth said "I have seen press reports of this arrangement with Syria but "we cer- : taintly have not received any official information." Secretary of State Henry A. Kissinger, said at a press conference in Kansas City May 13 that the sale of "Hawks" to Jordan was justified to make sure that
_ (CONTINUED ON PAGE 1»
lecturer in the synagogue's current lecture series.
Professor Ivry is presently the Leon Yassenoff Professor of Philosophy and Jewish Studies at The Ohio State University. In addition to Jewish Philosophy, he also teaches Greek and Islamic Philosophy..
Alfred Ivry is a scholar of international fame. He has received awards for research and study in , England, Morocco, and Israel. He has taught at Tel Aviv and Cornell univer¬ sities and holds doctorates from both Brandeis .and Oxford .- universities. Professor Ivry has written two books, contributed to the Encyclopedia Judaica^ arid
(CONTINUED ON PAGE 12)
CfepNrU^ Page 5
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IS
r4
r it
f
!?
^
IflROMCLE
- ■ ... —i -i-n J*
^][\\>y Serving Columbus and Central Ohio Jewish Community for Over 50 Years \yA\A
LIBRARY, OHIO HISTORICAL SOCIETY 1982 VELMA AVE*
COLS
43211
EXCH
VOL. 53 NO. 4
MAY 22, 1975 - SIVAN 12
>?■
p.*'
'■■4
*y
.& • ■
iv
Saudi Arabian Official Says Government Now Has No Plans To Invest In U.S. Business
*•.'
.-V
.4.1,
Mother Of Ihe Year
NEW YORK—Mrs. Josephine Burson of iMemphis is surrounded by her family after she was named 1975 American Mother of the Year iri New York. With her are her son, Charles, and his wife, Bunny (left), her husband, Leo R. Burson; and her daughter, Linda, with her fiance, Dr. Zed Aydelott.
The wife of an attorney, Mrs. Bursor who is Jewish, . has combined motherhood and a professional career. She was Tennessee Commissioner of Employment' from 1967 to 1971, and is past national vice-president of : Hadassah. Mrs. Burson, who says she is pleased with the changing role of women in contemporary society,- has done some pioneering of her own on behalf of women. She was the first woman trustee of Memphis State University, served on Tennessee's Ctowmissiori on the Status of Women, was an organizer of the Memphis Jewish Community Relations 'Council, serving as its president from 1964 to 1967. *
Mrs. Burson's parents were immigrants.. Her mother came from Lithuania and settled in Jonesboro,' Ark. Her father came to Memphis' from South Africa, where he was a soldier iri the Boer War. : ,,.'•'
RELIGIOUS NEWS SERVICE PHOTO
By BUI Cohen Chronicle Special Reporter
The government of Saudi Arabia has changed its mind and now has "no/plan to invest in U.S. business and industry," the (Coordinator of a Saudi Arabian economic mission said in Columbus last week. .■'•(!.'
Dr.' Abdelrahman Al- Zamel said that negative reaction from . some American businessmen and pressure from pro-Israeli groups were partly behind the Saudi Arabian Change in plans.
He said his government observed the protests and court actions attempting to stop a real estate investment by Kuwait in South Carolina arid investments by two Saudi individuals in Michigan and California banks.
"Why should y/e buy new problems with our money?" Al-Zamel asked. "We think if the Americans do riot want it (Ar^ab Investment), it is up to , them.?'
"I can't say we never had the plan (to invest in U;S. business) but now, we don't , have it," he said. ■j Al-Zarriel said the only Saudi Arabian government investment in America
would be in the form of U.S. government bonds.
Another reason for the Saudi change of plan is that "we have reached the conclusion that it is much better to invest our money back home to develop our nation," according to Al- Zamel. >
He explained that the Saudi Arabian government plans to invest his nation's rapidly - accumulating petro - dollars in a five - year, $150,000,000,000 self -I development project of' industrialization. He added that the plan will also focus, on providing free education and health care to all Saudis. Al-Zamel said that last year, Saudi Arabia built "a school a day" and plans to continue that project. "
Instead of Saudi Arabia
investing in the U.S., Saudi
. Arabia is asking U.S.
businesses to invest in Saudi
'^''Arabi^,:;,:'he'-;^d.-:A^d'.r'he' added that many financial incentives are beihgjto American mdustry --^; n»
'-'ibl£'u^e;'t^':fw-: